JP: This real estate company is in bad shape, with Rs 52,000 crore outstanding.

JP: Banks that had given loans to bankrupt infrastructure and real estate firm Jaiprakash Associates may face difficulties as the company's promoters are seeking Rs. 778 crore as bank guarantee, taking their total debt to Rs 52,000 crore. It is clear that the promoters' guarantee will not be enough to cover the debt. The company operates hotels in Delhi, Agra, Noida and Mussoorie and is involved in cement and real estate businesses. Banks want to sell these assets and recover the outstanding loan. In 2018, the bankruptcy court accepted the petition filed by ICICI Bank against the company. Manoj Kaur, chairman of Jaiprakash Associates, and Sunil Kumar Sharma, vice-chairman, have given guarantees totaling Rs 1,578 crore, but bankers do not consider these guarantees very important. In 2017, RBI recommended declaring the company insolvent. Banks consider the personal guarantee given by the promoters as a formality and not as important. Arrears will be charged based on the value of properties shown by advertisers, which are years old. Some of the company's assets in the hotel, cement and real estate sectors are still in operation and the banks are collecting some of the dues by selling them. Also Read: UPI transactions up 49% in June JAL and ICICI owe Rs 9,204 crore to Rs Bank, according to documents filed by interim settlement expert Bhuvan Madan. The banks have control over the company's assets, which include hotels in Agra, Noida, Delhi and Mussoorie, five cement plants and land in the Yamuna Expressway Industrial Development Area near Noida. Also Read: Godrej Properties shares break records, company closes at Rs. Sold houses worth over Rs 3,150 crore: The real estate firm is in a bad shape, with an outstanding balance of Rs 52,000 crore.